Christopher Sealey

New York, NY, US
·

Member since
May 2018

Founder

I strive to build transformational businesses that have the potential to remake society. At CoverUS, we are developing the most valuable consumer-connected health data asset in the world by letting people protect and profit from their health data.

Christopher Sealey’s Posts
20

@peter-magistrale - The $750K CoverUS pre-seed round (noted in an earlier company update on Republic) raised almost entirely from VC and globally recognized angel investors. Given that this was our first money, we had initially envisioned this as being a "friends and family" raise, but were delighted to see the type of people step up whom we had assumed would only be part of our journey at a later stage. Our runway allows us to build our MVP, conduct our pilot, and begin raising our seed round, which we'd like to complete by Q4 this year.

@peter-magistrale - Thanks for your insights -- extremely thoughtful stuff. One thing I should clarify, is that unlike many competitors in our space, consumer-consented brokering of traditional health data (EMRs, etc.) is only part of our business and data model. We are primarily utilizing data as a targeting mechanism to unlock high-value opportunities for consumers to take actions and contribute real-world data (RWD) that cannot be collected without direct engagement. This means that even in a situation where Democrats fully controlled Washington and enacted a far more sweeping Medicare for All rollout plan than is currently anticipated, the core of what we are providing would still remain a marketplace need (as it is in the single-payer healthcare systems we speak with). Regarding the secondary transaction fee at time of cash out, going forward there will be opportunities for users in our app to do things with their money that do not require cash out (donate their earnings to charity, spend their earnings in a healthcare marketplace). Clearly a secondary transaction fee provides some friction on the back end (friction that isn't all bad since we want people to save, for their own reasons and for our business interests), but we'll see whether the transparency of showing both fees is something that inhibits users during our pilot. In terms of earnings along an age curve, while it's true that chronic disease sufferers (many of whom are older) may be in a position to earn more, we are finding in our research that the age stratification is not as stringent as we had anticipated. We have also foregone design "bells and whistles" to create a very simple app that should minimize friction for older users, and will have various ways to reach people outside the app experience (SMS, etc.) to help them earn and save. In terms of adoption and value proposition, we are seeing three key motivators: moving research forward, earning, and helping others. Privacy will also emerge.

For startups

Crypto

Company

This site is operated by OpenDeal Inc., which is not a registered
broker-dealer. OpenDeal does not give investment advice, endorsement, analysis or
recommendations with respect to any securities. All securities listed here are being
offered by, and all information included on this site is the responsibility of, the
applicable issuer of such securities. By accessing this site and any pages thereof,
you agree to be bound by the
Terms of Use
and
Privacy Policy.

Republic does not verify information provided by companies on this Portal and makes no
assurance as to the completeness or accuracy of any such information. Additional
information about companies fundraising on the Portal can be found by searching the
EDGAR database.